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Sunday, December 3, 2023

Taking On Challenges And Growing? – Corning, Inc. (GLW)

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Corning, Inc. (GLW) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.12, or 0.45%, to $26.88. The Corning, Inc. has recorded 220,167 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Corning Reports Third-Quarter 2023 Financial Results with Continued Improvement in Profitability and Cash Flow.

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Stocks Info

Corning, Inc. is listed on the NYSE as a member of the Technology sector and is a part of the Electronic Components industry. At the end of the last regular session, the stock closed at $26.76 and fluctuated between $26.89 as its day high and $26.62 as its day low. The current market capitalization of Corning, Inc. is $22.83B. A total of 3.98 million shares were traded on the day, compared to an average of 3.55M shares.

Insider Activity

Additionally, investors take into account insider trades when predicting how a stock will perform. During the recent three months, GLW has seen 2 BUY and 2 SELL insider trades, representing the acquisition of 2,170 and the disposition of 50,965 shares. Over the last 12 months, there were 155 BUYs and 83 SELLs from insiders. Insiders purchased 2,012,445 shares during that period but sold 1,393,663.

In the most recent transaction, WEEKS WENDELL P sold 100,000 shares of GLW for 33.78 per share on Jul 26. After the transaction, the Chairman and CEO now owns 847,474 company shares. In a previous transaction on Jul 26, STEVERSON LEWIS A sold 16,710 shares at 34.25 per share. GLW shares that EVP and CLAO owns now total 29,378.

Among the insiders who sold shares, Bell Michael Alan disposed of 35,045 shares on Jun 16 at a per-share price of $35.00. This resulted in the Senior VP & GM, Optical Comm. holding 0 shares of GLW after the transaction. In another insider transaction, Bayne John P JR sold 11,000 shares at $32.99 per share on Jun 13. Company shares held by the SVP &GM, Mobile Consumer Elec. now total 18,313.


It is more appealing for investors to invest in companies that pay dividends because dividends generate immediate cash flow and indicate a positive outlook for the company. Corning, Inc. pays an annual dividend of $1.13, resulting in a dividend yield of 4.22%, and it has a price to earnings (P/E) ratio of 39.34. GLW’s most recent ex-dividend date was 11/16/2023 when it declared a $0.28 quarterly dividend that was paid in cash on 12/15/2023. Previously, the company paid the dividend on 9/28/2023 with an ex-dividend date of 8/30/2023. The GLW stock dividend was $0.28 per share in cash.

Though price targets are rarely accurate, they can exert some influence from time to time and were often accepted as valuable by the market. According to analysts who have offered 12-month price targets for GLW in the last 3 months, the mean price target is $33.09 with high estimates of $40.00 and low estimates of $28.00. In terms of 52-week highs and lows, GLW has a high of $37.10 and a low of $25.26.

As of this writing, GLW has an earnings estimate of $Corning Incorporated per share for the current quarter. EPS was calculated based on a consensus of SPDR Gold Trust estimates, with a high estimate of $Lamb Weston Holdings, Inc. per share and a lower estimate of $W.W. Grainger, Inc.

Balance Sheet Annually/Quarterly

A balance sheet is a report that shows the company’s assets and liabilities. In addition, it shows how much equity investors have invested in the company. Investors can determine the company’s prospects by calculating its financial ratios based on this information. GLW’s latest balance sheet shows that the firm has $2.15B in Cash & Short Term Investments as of fiscal 2021. There were $7.04B in debt and $4.81B in liabilities at the time. Its Book Value Per Share was $13.94, while its Total Shareholder’s Equity was $12.54B.

Analysts Opinion

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for GLW is Buy with a score of 3.90.

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